MBIA, Inc. (NYSE:MBI)‘s stock had its “buy” rating reiterated by equities research analysts at MKM Partners in a research report issued to clients and investors on Thursday.

Other equities research analysts have also issued reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $14.00 target price on shares of MBIA in a research report on Tuesday, June 27th. BidaskClub raised MBIA from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th.

Shares of MBIA (MBI) traded down 2.64% during trading on Thursday, hitting $7.74. 9,231,992 shares of the stock were exchanged. The firm has a 50 day moving average of $9.83 and a 200-day moving average of $9.18. MBIA has a 12-month low of $7.14 and a 12-month high of $11.65. The company’s market cap is $973.82 million.

MBIA (NYSE:MBI) last issued its earnings results on Tuesday, August 8th. The insurance provider reported ($1.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($1.10). The business had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $87.85 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. MBIA’s revenue for the quarter was down 39.0% compared to the same quarter last year. On average, analysts forecast that MBIA will post ($0.76) earnings per share for the current year.

MBIA announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “MKM Partners Reaffirms “Buy” Rating for MBIA, Inc. (MBI)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/10/05/mkm-partners-reaffirms-buy-rating-for-mbia-inc-mbi-2.html.

Hedge funds and other institutional investors have recently modified their holdings of the business. Intl Fcstone Inc. acquired a new position in shares of MBIA during the second quarter valued at $127,000. Public Employees Retirement System of Ohio increased its holdings in shares of MBIA by 7.0% during the second quarter. Public Employees Retirement System of Ohio now owns 16,849 shares of the insurance provider’s stock valued at $159,000 after purchasing an additional 1,109 shares during the period. Proxima Capital Management LLC increased its holdings in shares of MBIA by 33.9% during the second quarter. Proxima Capital Management LLC now owns 805,000 shares of the insurance provider’s stock valued at $7,591,000 after purchasing an additional 204,000 shares during the period. Financial Partners Capital Management LLC increased its holdings in shares of MBIA by 12.4% during the second quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 1,250 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of MBIA during the second quarter valued at $116,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

Receive News & Ratings for MBIA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MBIA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.